The RCS Group is an operationally independent consumer finance business that provides a broad range of financial services under its own brand and in association with a number of retail entities in South Africa, Namibia and Botswana. The RCS Group is majority owned by The Foschini Group (TFG) (55%), with Standard Bank holding the balance of the shares (45%).
It is structured into two operating business units named Transactional Finance and Fixed Term Finance. These operating units are supported by a number of shared services. In addition, the RCS Group has an investment interest (60%) in an independent data management company named Effective Intelligence.
The RCS Group is functionally separate from the TFG Financial Services division and it has its own governance structure, field of operation, management team, budgets and profit models.
The Transactional Finance business unit is focused on facilitating credit sales for retailers at point of sale. Retail credit sales are supported in one of two ways:
The private label portfolio consists of the Queenspark Card, the Game Card, the Don Wired Card and The Builders Card.
The Fixed Term Finance business unit provides personal loans, home loans and insurance products under the RCS brand to existing RCS Group, TFG and external customers through direct marketing methods.